NASDAQ:MRVLMarvell Technology Group Stock Price, Forecast & News

Marvell Technology Group's stock was trading at $22.01 on March 11th, 2020 when COVID-19 reached pandemic status according to the World Health Organization (WHO). Since then, MRVL shares have increased by 59.6% and is now trading at $35.13. View which stocks have been most impacted by Coronavirus.

24 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Marvell Technology Group in the last year. There are currently 1 sell rating, 3 hold ratings and 20 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View analyst ratings for Marvell Technology Group.

Marvell Technology Group is scheduled to release its next quarterly earnings announcement on Thursday, September 3rd 2020. View our earnings forecast for Marvell Technology Group.

Marvell Technology Group Ltd. (NASDAQ:MRVL) issued its quarterly earnings data on Thursday, May, 28th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.14 by $0.04. The semiconductor company earned $694 million during the quarter, compared to analyst estimates of $680.19 million. Marvell Technology Group had a return on equity of 2.82% and a net margin of 55.66%. The company's revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.16 EPS. View Marvell Technology Group's earnings history.

Marvell Technology Group declared a quarterly dividend on Thursday, June 25th. Stockholders of record on Monday, July 13th will be paid a dividend of $0.06 per share on Wednesday, July 29th. This represents a $0.24 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Friday, July 10th. View Marvell Technology Group's dividend history.

Marvell Technology Group declared that its Board of Directors has authorized a stock buyback plan on Tuesday, October 16th 2018, which allows the company to buyback $1,000,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization allows the company to purchase up to 7.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

Marvell Technology Group issued an update on its second quarter earnings guidance on Thursday, May, 28th. The company provided EPS guidance of $0.17-$0.23 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.17. The company issued revenue guidance of $684-$756 million, compared to the consensus revenue estimate of $687.06 million.

24 equities research analysts have issued 1-year target prices for Marvell Technology Group's stock. Their forecasts range from $18.00 to $42.00. On average, they anticipate Marvell Technology Group's stock price to reach $32.19 in the next twelve months. This suggests that the stock has a possible downside of 8.4%. View analysts' price targets for Marvell Technology Group.

News coverage about MRVL stock has been trending very negative on Thursday, according to InfoTrie Sentiment Analysis. InfoTrie identifies negative and positive news coverage by reviewing more than six thousand news and blog sources. The firm ranks coverage of companies on a scale of -5 to 5, with scores nearest to five being the most favorable. Marvell Technology Group earned a media sentiment score of -3.3 on InfoTrie's scale. They also gave news headlines about the semiconductor company a news buzz of 0.0 out of 10, meaning that recent news coverage is extremely unlikely to have an impact on the company's share price in the near future. View the latest news about Marvell Technology Group.

Marvell Technology Group saw a increase in short interest in June. As of June 15th, there was short interest totaling 25,360,000 shares, an increase of 11.8% from the May 31st total of 22,690,000 shares. Based on an average daily trading volume, of 10,530,000 shares, the short-interest ratio is currently 2.4 days. Approximately 3.9% of the company's stock are short sold. View Marvell Technology Group's Current Options Chain.

Some companies that are related to Marvell Technology Group include Intel (INTC), NVIDIA (NVDA), Broadcom (AVGO), Texas Instruments (TXN), Micron Technology (MU), Analog Devices (ADI), Microchip Technology (MCHP), Xilinx (XLNX), Skyworks Solutions (SWKS), Maxim Integrated Products (MXIM), Monolithic Power Systems (MPWR), Cree (CREE), Inphi (IPHI), First Solar (FSLR) and Silicon Laboratories (SLAB). View all competitors.

Based on aggregate information from My MarketBeat watchlists, some companies that other Marvell Technology Group investors own include NVIDIA (NVDA), Micron Technology (MU), Advanced Micro Devices (AMD), Alibaba Group (BABA), Walt Disney (DIS), QUALCOMM (QCOM), Cisco Systems (CSCO), Intel (INTC), AbbVie (ABBV) and salesforce.com (CRM).

Marvell Technology Group trades on the NASDAQ under the ticker symbol "MRVL."

Shares of MRVL can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.

One share of MRVL stock can currently be purchased for approximately $35.13.

Marvell Technology Group has a market capitalization of $23.37 billion and generates $2.70 billion in revenue each year. The semiconductor company earns $1.58 billion in net income (profit) each year or $0.32 on an earnings per share basis. Marvell Technology Group employs 5,633 workers across the globe.

The official website for Marvell Technology Group is www.marvell.com.

Marvell Technology Group's mailing address is 22 VICTORIA STREET, HAMILTON D0, HM 12. The semiconductor company can be reached via phone at 441-296-6395 or via email at [email protected]